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Apple is finally rolling out peer-to-peer payments as part of its update to iOS 11, the company announced on Monday at its annual developer conference in San Jose. The feature is part of Apple Pay, the tech giant's digital payments service, and can be accessed via iMessage, making it easy to send money right from a chat conversation with another user.

Taking on the competition: The much-rumored feature puts Apple in direct competition with services like PayPal's Venmo app and Square's Cash. Apple Pay, which is already available as an alternative to credit cards for paying in store and online, has been steadily growing in popularity, so its new peer-to-peer feature is sure to make existing competitors nervous. With that said, the feature only works for Apple Pay users, so people will won't be able to use it for payments to or from Android users.

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1 hour ago - Sports

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Illustration: Eniola Odetunde/Axios

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Why it matters: College football players have never had more leverage than they do right now, as the sport tries to stage a season amid the pandemic. And their willingness to use it shows we've entered a new age in college sports.

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Illustration: Aïda Amer/Axios

The specter of rising inflation is helping power assets like gold, silver and Treasury Inflation-Protected Securities (TIPS) to strong returns with record demand this year.

The big picture: Investors continue to pack in even as inflation metrics like the consumer price index (CPI) and personal consumption expenditure (PCE) index have remained anchored.

Scoop: Top CEOs urge Congress to help small businesses

Illustration: Eniola Odetunde/Axios

With a new coronavirus relief measure stalled in Congress, CEOs of some of the world's biggest companies have banded together to send a message to Washington: Get money to small businesses now!

Why it matters: "By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," warns the letter, organized by Howard Schultz and signed by more than 100 CEOs.